EverSource Wealth Advisors LLC Increases Stock Holdings in Prologis, Inc. (NYSE:PLD)

EverSource Wealth Advisors LLC lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 228.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,253 shares of the real estate investment trust’s stock after buying an additional 2,264 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Prologis were worth $344,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Empirical Asset Management LLC boosted its stake in Prologis by 339.0% in the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after acquiring an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. boosted its position in shares of Prologis by 2.9% in the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after purchasing an additional 25,266 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Prologis by 29.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock worth $82,907,000 after buying an additional 179,880 shares during the last quarter. Worldquant Millennium Advisors LLC acquired a new position in Prologis during the third quarter worth approximately $1,051,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Prologis in the third quarter valued at approximately $7,371,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the topic of a number of research reports. Wolfe Research lowered their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Robert W. Baird raised their price objective on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Royal Bank of Canada upped their target price on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. Truist Financial raised their price target on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Scotiabank reduced their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Trading Up 1.5 %

Shares of PLD stock opened at $111.98 on Friday. The stock has a market cap of $103.79 billion, a P/E ratio of 28.00, a P/E/G ratio of 2.70 and a beta of 1.09. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57. The business has a fifty day simple moving average of $116.89 and a 200-day simple moving average of $117.53.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.61%. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is presently 101.00%.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.